ECOWAS Bank Secures India EXIM Bank’s $40m Credit Line For Africa’s Devt Projects

The ECOWAS Bank for Investment and Development (EBID) has secured a $40 million commercial credit line from India Exim Bank to support development projects in Africa. The partnership aims to bridge the infrastructure gap, drive sustainable economic growth, and promote regional integration in West Africa.

The agreement was signed in London by the President of EBID, George Donkor, and the Chief Executive of India Exim Bank's London Branch, Ashok Kumar Vartia. Donkor praised India Exim Bank's commitment to partnering with the ECOWAS subregion for development projects that benefit vulnerable populations.

The credit line will support key sectors such as energy, health, transportation, agriculture, and infrastructure to drive economic growth in West Africa. This agreement marks a significant milestone in the ongoing partnership between India Exim Bank and EBID, dating back to 2006.